Oakleaf Plantation, FL Cost of Living

Oakleaf Plantation cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

An overview of the general cost of living index for Oakleaf Plantation, FL is displayed above for your reference. Residents in Oakleaf Plantation, FL enjoy a cost of living index of 104. This index is 5% higher than the Florida average, and 4% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Oakleaf Plantation, FL, the average cost of goods and services is equal to it is in Florida, and it is 1% lower than the national average.

Did you know?

The cost of living in Oakleaf Plantation is 5% higher than the Florida average.

The cost of living in Oakleaf Plantation is 4% higher than the national average.

The cost of housing in Oakleaf Plantation is 12% higher than the national average.

Florida general sales tax is 18% higher than the national average.

Florida state income tax is 100% lower than the national average.

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Compare Oakleaf Plantation, FL Cost of living To Other Cities

Salary Calculator

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Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

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Utilities index

The salary calculator is used in order to provide a comparison of your current salary in Oakleaf Plantation, FL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Oakleaf Plantation, FL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Oakleaf Plantation, FL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$85,100

$7,092

$1,986

$2,553

Renters

$63,522

$5,294

$1,482

$1,906

If you want to find a good determining factor for the cost of living and the general affordability of housing in Oakleaf Plantation, FL, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Oakleaf Plantation, FL, the median monthly income is $85,100 for those who own their own homes. Under the standard rule, that income level would allow for $1,986 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $63,522, per the median income in the area. That would allow for renters to spend up to $1,482 on monthly rental expenses.

Florida Sales Tax

State

General Sales Tax

With Max Surtax

Florida

6%

7.5%

Florida Income Tax

State

Income Tax (Low)

Income Tax (High)

Florida

0%

0%

When you are determining the total cost of living in Oakleaf Plantation, FL you will want to make sure you consider both the Florida sales tax and the Florida income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Florida is 6%, with the highest surtax being 7.5%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Florida have a range from 0% to 0%.

Goods & Services

Item

Oakleaf Plantation

National avg.

Difference

Haircut

$11.87

$15.56

23.8%

Beauty Salon

$56.33

$36.11

56.0%

Toothpaste

$2.44

$2.47

1.4%

Shampoo

$1.07

$0.96

10.9%

Movie

$10.55

$10.13

4.2%

Bowling

$4.49

$4.74

5.3%

Groceries

Item

Oakleaf Plantation

National avg.

Difference

Ground Beef

$4.11

$3.98

3.2%

Fried Chicken

$1.69

$1.41

19.9%

Milk

$2.30

$2.06

11.4%

Potatoes

$3.17

$2.98

6.2%

Pizza

$9.89

$9.47

4.4%

Beer

$9.25

$8.79

5.2%

Health Care

Item

Oakleaf Plantation

National avg.

Difference

Optometrist

$78.60

$101.04

22.2%

Doctor

$64.87

$107.44

39.6%

Dentist

$87.93

$90.42

2.7%

Ibuprofen

$9.15

$9.28

1.4%

Lipitor

$397.47

$426.50

6.8%

Housing

Item

Oakleaf Plantation

National avg.

Difference

Home Price

$167,900.00

$175,700.00

4.4%

Avg. Mortgage Payment

$835.78

$1,133.23

26.2%

Apartment Rent

$1,391.00

$920.00

51.2%

Transportation

Item

Oakleaf Plantation

National avg.

Difference

Gasoline

$1.98

$1.99

0.7%

Tire Balancing

$46.98

$45.76

2.7%

Utilities

Item

Oakleaf Plantation

National avg.

Difference

All Electricity

$159.56

$163.81

2.6%

Phone

$36.55

$28.39

28.8%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

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